Latest / MPC Markets Morning Call
Stocks Erase Losses (& Memory) of Iran Conflict
US equities staged a decisive recovery on Monday, with the S&P 500 closing up 1% at 6,887 to fully erase all losses sustained since the outbreak of the Iran war six weeks ago. President Donald Trump’s declaration that Iran “wants to make a deal” sparked the rally even as the US Navy enforced a new blockade of the Strait of Hormuz. Oil prices surged toward $100 a barrel before paring gains on talk of renewed negotiations. The ASX is set to open higher as risk appetite returns to global markets.
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